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  • FIRST POST
    Caribbea
    reclaiming Generali Vision plan premiums
    • #1
    • 30th Aug 10, 10:59 PM
    reclaiming Generali Vision plan premiums 30th Aug 10 at 10:59 PM
    I have some serious problems with Generali Vision plan signed 2 years ago in the Caribbean with an independent broker consultant for Generali Guernsey. Based on misleading information of the premium based Administration Charges, I was told to put all my savings into this first year and then reduce it afterwards without telling me that in the future I would have to pay all charges based on this first payment. The more I dig the worse it gets. Anybody has bought Generali Vision Plan?
Page 2
  • Flipflop1
    Please try and sign this petition to air your views and experiences of Generali investments. I cant add a link but if you google search the following you will find it.
    petitions/generali-annul-vision-contracts-and-return-all-funds-at-current-market-prices
    Please try and make the difference if you can. The more current the posts, the more current this all stays to help those about to make the same mistakes with Generali as we did. You never know...it might also make them think about changing their bussiness practice. Its not so easy to hide on the internet.
    • Gringoloko
    • By Gringoloko 19th Nov 15, 12:11 PM
    • 4 Posts
    • 0 Thanks
    Gringoloko
    Generali
    Hi there I have worked in this industry and know it inside out if you would like some support I would be happy to chat on Skype charlie.burrows1
    • Gringoloko
    • By Gringoloko 19th Nov 15, 12:13 PM
    • 4 Posts
    • 0 Thanks
    Gringoloko
    Generali
    I trie dbut it was locked
    • Gringoloko
    • By Gringoloko 19th Nov 15, 12:16 PM
    • 4 Posts
    • 0 Thanks
    Gringoloko
    Hi there I have worked in this industry and seen all kinds of miss selling on these products if you would like help I will do my best
    • Gringoloko
    • By Gringoloko 19th Nov 15, 12:18 PM
    • 4 Posts
    • 0 Thanks
    Gringoloko
    Hi Sean I am sorry to hear how badly miss sold you were lets skype charlie.burrows1 Ill do what I can
    • Pigeon2001
    • By Pigeon2001 28th Feb 16, 12:35 PM
    • 1 Posts
    • 0 Thanks
    Pigeon2001
    Generali - Please advise!
    Hello - can anyone please advise me what to do....
    5 years ago i signed a Generali vision plan when living in Kuwait. I put 1000USD a month into it. After 3 years i went on the premium holiday for 6 months. During this time, the sales rep from Cyprus vanished and i had no clue about what was happening to my plan. During this time after being robbed i got a new credit card. To cut the story short - i haven't made any payemnts for 18 months into my plan. After doing thorough research, i have no intention of paying and more money in. Can i just walk away from my plan? They have told me i owe 18000 to terminate but i refuse to pay. I don't want my already 20,000 dollars - they can keep it. My question is - what if i just refuse to pay - what can they do? Other than keep my money paid already - what will happen? Please advise....
    • dunstonh
    • By dunstonh 28th Feb 16, 12:50 PM
    • 89,501 Posts
    • 54,960 Thanks
    dunstonh
    During this time, the sales rep from Cyprus vanished and i had no clue about what was happening to my plan.
    Not unusual. Every time the UK upped regulation and compliance, the overseas sales areas where there are a lot of expats, would go recruiting "advisers" who couldnt or didnt want to meet the new UK standards. They were promised hot weather, good life and lots of clients wanting to do business. In reality, they were given a list of names (that every previous mug that had fallen for their promises had tried farming) and marketing was more like the US model than the UK one and most of them could not succeed at it and would end up returning home and out of financial services.

    However, all that said, the provider was available to answer any questions you had. So, you could have called them and can still do so.

    an i just walk away from my plan?
    Yes. There is no retail financial services product that can charge you more than the value of the plan.

    They have told me i owe 18000 to terminate but i refuse to pay.
    They probably dont mean you would need to write them a cheque but that that is the cost of surrendering the plan and it will be deducted from the value.

    My question is - what if i just refuse to pay - what can they do?
    They will leave the plan in force until there is no money left or when it hits maturity
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • waterbridge
    • By waterbridge 20th Jun 16, 2:17 PM
    • 4 Posts
    • 1 Thanks
    waterbridge
    These guys are very very active out here in the Middle east and I see them getting a lot of custom.

    I cant imagine how many people are losing money through them.

    What can be done to try and raise awareness about these groups?
    • DubaiFool
    • By DubaiFool 12th Jul 17, 8:44 AM
    • 1 Posts
    • 0 Thanks
    DubaiFool
    For awareness, this page is of good use! But that works only for those who search on internet before signing with their financial advisor.

    I'll repeat it again for visibility: Do not sign a Generali Vision plan, unless you are really sure about the terms & conditions. This plan has very high, compounded fees, and you're probably better off looking for other options (ETF on Interactive brokers for instance).

    I did the same mistake as many here, and signed a 10 year plan with 500$ monthly premium. It was 6 year ago, my plan is slightly positive now but the yearly fees will hit me in a month and take away all the potential gains.
    I did the math and it seems I'm better off staying 4 more years, to get the loyalty bonus at the end, which will reduce my fees. Still, signing a Vision plan was the biggest mistake of my life.

    I'll keep mentioning it on every forum, and face to face with anyone who is interested in investment plans.
    • Magnus Jern
    • By Magnus Jern 15th Sep 17, 4:53 PM
    • 2 Posts
    • 0 Thanks
    Magnus Jern
    Re: reclaiming Generali Vision plan premiums
    Hi!

    We are many that share the the pain of Generali Vision and were duped into buying this plan.

    We are a group of 20+ people planning to take legal action on Generali over the Generali Vision plan cancellation cost/clause. If you're interested in getting your money back then join the group "Duped by Devere" on Facebook. It doesn't matter if you bought it through Devere or someone else.

    Regards,
    Magnus
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